Breaking News: Cincinnati Reds Closer Ryan Madson out for Season

According to multiple sources, Cincinnati's Ryan Madson is out for the season after tearing a ligament in his elbow.

Madson, who signed a one-year deal worth more than $8 million earlier this offseason, was projected to be the Reds' closer following the release of Francisco Cordero.

The injury, which took place earlier this week, was announced earlier today, following an examination by team medical director Timothy Kremchek.

The Reds have made no remarks regarding who might take on Madson's closing duties, but according to the Washington Post, general manager Walt Jocketty did say that the search for a replacement closer is underway.

"We talked to the team. We all have to stay positive," Jocketty said. "We have alternatives internally that we will sort through in the next few days."

This news comes just days after the Reds announced Cuban prospect Aroldis Chapman will begin the season in the bullpen, and many are considering him a front-runner for the job.